Good news for Yes Bank’s shareholders, SMBC’s soon to deal with SMBC, bank stated the news correct
Yes bank There is good news for shareholders A large Japanese company is planning to buy a large stake in Yes Bank. The market of speculation about this news was hot for the last few days. Now the bank has admitted that it is being discussed with SMBC to sell stake. However, the conversation is currently in the early stages. The bank also said that it regularly discovers opportunities to increase its shareholder price. Yes Bank said in stock exchange filing that discussions are initial right now. According to the information received, SMBC can buy 51 percent stake in Yes Bank.
SBI has the most shares
SBI currently has the highest 24% stake in Yes Bank. SBI is looking for a new investor. A deal with SMBC can give rise to an open offer. In the open offer, SMBC will get a chance to buy Yes Bank’s 26% additional stake. In this way SMBC may have a 51 percent stake. That is, SMBC will owe the bank. However, the approval of the Reserve Bank of India will be necessary for this. According to the information received, recently top officials of the Japanese company met SBI and other shareholders of Yes Bank in Mumbai. The terms of purchasing stake in this meeting spoke.
These are big investors in the bank
SBI, who holds 24% stake in Yes Bank. At the same time, domestic banks and financial institutions like HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank and Indian Life Insurance Corporation are the owners of 11.34% of Yes Bank. By March, Private Equity Fund Advent International and Carlile had 9.20% and 6.84% stake respectively. Yes Bank’s total deposit amount increased to Rs 2.85 lakh crore in FY 25, which is 2.7 times more than March 2020. The NPA has reduced from 16.8% in FY 20 to 16.8% and 5% respectively to 1.6% in FY 25 and Pure NPA 0.3%. For the whole year, the bank recorded a net profit of Rs 2,406 crore, which is 93% more than the previous year? There was a loss of Rs 16,418 crore in FY 20.
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